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Pranav Construction IPO Allotment Status: Check Your Shares, Odds, and GMP

· · 3 min read

Pranav Construction's IPO allotment is expected today, September 10. Investors can check their share status and allotment odds via KFin Technologies, NSE, or BSE. The IPO, subscribed 121 times, shows a GMP of Rs 40-43.

Investors who participated in the Pranav Construction initial public offering (IPO) are awaiting the finalization of their share allotments. The basis of allotment is set to be confirmed today, Thursday, September 10. Applicants will be able to verify their allotment status through the registrar's website, KFin Technologies, as well as on the platforms of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Understanding Allotment Odds for Pranav Construction IPO

The IPO, which saw overwhelming demand, closed with an overall subscription of 121 times. This high subscription rate translates to specific odds for different investor categories:

  • Big HNI Category (bNII): Approximately 1 in 49 investors received 1,680 shares.
  • Small HNI Category (sNII): Roughly 2 in 327 investors were allotted 1,680 shares.
  • Retail Category: Around 1 in 40 retail investors secured 120 shares.

How to Check Pranav Construction IPO Allotment Status

Via KFin Technologies (Registrar)

  1. Visit the official KFin Technologies IPO allotment portal.
  2. From the dropdown menu, select 'Pranav Construction IPO' once the allotment is finalized.
  3. Choose one of three verification options: Application Number, Demat Account Number, or PAN ID.
  4. Specify your application type (ASBA or non-ASBA).
  5. Enter the details corresponding to your chosen verification mode.
  6. Complete the security captcha.
  7. Click 'Submit' to view your status.

Via NSE Website

  1. Navigate to the NSE's dedicated IPO allotment page.
  2. Select 'Equity & SME IPO Bid details'.
  3. Under 'Select Symbol', choose 'PRANAV'.
  4. Input your PAN Number and Application Number.
  5. Click 'Submit' to proceed.

Via BSE Website

  1. Go to the BSE's IPO allotment page.
  2. Under 'Issue Type', select 'Equity'.
  3. From the 'Issue Name' dropdown, choose 'Rays of Pranav Construction'.
  4. Enter your application number.
  5. Provide your PAN card ID.
  6. Check the 'I am not a Robot' box and click 'Search'.

IPO Details and Grey Market Premium (GMP)

Pranav Construction's IPO was open for subscription from September 7 to September 9, with shares priced in a band of Rs 118-124 per equity share. The company successfully raised Rs 351 crore through the issue, which had a lot size of 120 equity shares.

The IPO witnessed robust subscription figures, with qualified institutional bidders (QIBs) subscribing 258.71 times, non-institutional investors (NIIs) 208.21 times, and retail investors 43.33 times. Following this strong demand, the Grey Market Premium (GMP) for Pranav Construction has remained stable at Rs 40-43 per share, indicating potential listing gains of 32-35 percent for investors. The tentative listing date for the shares on both BSE and NSE is Tuesday, September 15.

PNB Investment Services and Centrum Capital served as the book-running lead managers for the IPO, with KFin Technologies Ltd acting as the official registrar. Refunds for non-allotted bids are expected to be processed on Friday, September 11.

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